Pmcapital

PM Capital's Chief Investment Officer Paul Moore and Portfolio Manager John Whelan recently completed a research tour of the United Kingdom, Ireland and Spain. In this video, Paul and John review their tour, sharing insights which show us that some current market beliefs are misconceptions, and that new opportunities are...
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Interest rates and inflation have been on a downward trajectory since the late 80s, a 30 year trend. Paul Moore says 2016 was an inflection point and expects inflation to return. For the majority of investors this represents unchartered territory, so how do you approach such a foreign outlook?
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Late last month Australian online employment classifieds company Seek Limited announced it was in advanced discussions with majority owned Chinese compatriot Zhaopin regarding a potential privatisation at US$18 per American Deposit Shares (ADS). Typically, the receipt of a potential takeover offer is met with high fives amongst investors. However, in...
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Alternative asset manager Fortress has just received a takeover offer at a significant premium to its prior trading price. PM Capital Portfolio Manager John Whelan discusses why PM Capital recently began building its stake in Fortress, how its investment process identified the stock, and what the takeover may reflect for...
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Apollo is a leading global alternative asset manager investing in private equity, credit and real estate. It’s growing funds under management at the expense of traditional asset managers while selling on valuations at a discount to them. John Whelan explains why and where to from here.
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PM Capital income securities portfolio manager Jarod Dawson believes the value of 10-year US government bonds could fall more than 20% because the US economy is doing a lot better than most people think. While a strong US economy is good news for most, the accompanying hikes in US interest...
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Kevin Bertoli, Portfolio Manager of the PM Capital Asian Companies Fund and the PM Capital Asian Opportunities Fund (ASX:PAF), talks about Autohome, a Chinese online car portal two and a half times bigger than Carsales.com.au. He talks about why the market has marked it down over the past 18 months,...
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De ja vu – all over again. As part of an introduction on how to analyse banking stocks, Paul Moore, Chief Investment Officer and Chairman of PM Capital, talks about why dividends matter, why global banks are on a similar wave that used to drive Australian bank stock prices and...
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The usual stock market mantra is that you sell on the rumour and buy on the fact. With a significant rally ensuing after Donald Trump’s surprise election win, is it the same here? Should you sell now that the new President has been inaugurated and the risks of a Trump...
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The reaction of the markets was instructive on the day of the election results. Once the outcome was known, Asian and European markets placed their bets and markets sold off. By the end of the following day’s US trading, they were proved to be 100% incorrect. So even with a...
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Paul Moore, Chief Investment Officer and founder of PM CAPITAL, says recent noise in investment markets linked to specific events such as Brexit has hidden the fact that the world is at an inflection point. Interest rates may have hit their lows after an historic bull run and he says...
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There has certainly been a lot to digest over the past 12 months – a couple of missteps in China, Europe’s seemingly endless commitment to quantitative easing, the Fed finally starting to raise interest rates to then recently stalling, the Brexit and locally the RBA deciding to cut interest rates...
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Given the external shock created by Brexit and the initial impact on our UK and European Investments, our CIO Paul Moore provides a further update on Brexit and the global markets in our June quarterly video update. "So clearly with Brexit it is a more difficult environment; uncertainty has increased....
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Following his initial commentary on Monday 29 June, Paul Moore provides further commentary in a video update on the UK Referendum. "The overall situation is very different to previous growth scares as it is a political event as opposed to normal economic cycle issues playing out. So one does have...
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Our CIO Paul Moore reflects on the markets reaction to last week’s UK Referendum, "The most important issue, when an event of this magnitude has occurred, is to ensure that one avoids the gravitational pull of short term emotion and ensure that decisions are made based on what is going...
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Paul Moore, CIO and founder of PM CAPITAL discusses with CommSec’s Tom Piotrowski why he believes investing globally currently provides a better risk reward proposition for Australian based investors. Firstly, investors get access to "businesses that are selling twenty to thirty per cent cheaper than similar companies here in Australia"....
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Paul Moore, CIO at PM CAPITAL talks to Peter Switzer, reflecting on 30 years of investing in the Funds Management Industry. In particular, he details key lessons learnt and the driving philosophy which determines whether he decides to invest or not to invest. “…It is just based on fundamentals…our process...
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Paul Moore, CIO at PM CAPITAL believes that “three quarters of so-called active managers are now ‘closet indexers’ in an investment world that has become increasingly process-driven”. Speaking at a lunch in Sydney yesterday, Moore further detailed that the high level of indexing and ETFs may be contributing to the...
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NextDC is an ASX listed company which owns and operates data storage facilities for the technology industry. Uday Cheruvu, Portfolio Manager at PM CAPITAL, believes the company is misunderstood and that the market has been slow to come to grips with NextDC’s ‘non-linear’ earnings. “The fact is that the data...
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Paul Moore, Chief Investment Officer at PM CAPITAL discusses his views on the recent price volatility. In this video http://www.pmcapital.com.au/news/webinars_and_videos/cio_paul_moore_on_recent_market_volatility_-_part_1253.aspx Paul details that we are in an environment of two steps forward, one step back. “People are now assuming that China is in fact going to be worse than they...
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